SAT stays Sebi trading ban order on Parsvnath Developers

Parsvnath Developers on Friday also informed bouses that Crisil has revised the rating assigned to the long term bank facilities of Parsvnath from ‘Crisil – C’ to ‘Crisil- D’ETMarkets.com | August 11, 2017, 14:21 IST

Parsvnath Developers on Friday also informed bouses that Crisil has revised the rating assigned to the long term bank facilities of Parsvnath from ‘Crisil – C’ to ‘Crisil- D’.

The rating agency has also revised the rating assigned to Rs 200 crore non-convertible debentures of the Parsvnath Landmark Developers, a wholly-owned subsidiary of the company from Crisil ‘Crisil -BB/Stable’ to ‘Crisil -BB-/Negative’.

Pincon Spirits and Signet Industries also moved to SAT against Sebi’s order of August 7.

Earlier, SAT on Thursday stayed the trade restriction order by the market regulator on J Kumar Infraprojects and Prakash Industries. Shares of both of these firms hit lower circuit when trading resumed on Friday.

Currently, the Goods and Services Tax (GST) is levied at 12 per cent on payments made for under-construction property or ready-to-move-in flats where completion certificate has not been issued at the time of sale.